Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

354 Apple Valley Rd

Sevierville, TN 37862

$475,000

3 bd · 3.5 ba · 2,170 sqft · Listed 1d ago

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Low confidenceNegative cash flow

Year built

1988

Sqft

2,170

Lot sqft

34,412

HOA / mo

None

Furnished

List date

2026-10-03T16:13:33.000000Z

Revenue

Annual revenue

$50,780

ADR

$333

Occupancy

42%

Cleaning fees (12 mo)

$5,759

Confidence

Low (34.57), 6 comps

Comp revenue range (p25 / median / p75)

$16,798$44,027$58,085

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $44,027

River/Mtn Views- Pool-Gym-Gamerm @ Appleview Condo
Apartment · 3 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $7,032ADR $251Occ ≈ 8%4★ (1)
Airbnb
Apple River Penthouse
House · 3 bd · 3 ba · sleeps 11 · 0.4 mi
Revenue $47,033ADR $344Occ ≈ 37%4.9★ (23)
Vrbo
Lazy Bear in Pigeon Forge
Cabin · 4 bd · 3 ba · sleeps 12 · 0.7 mi
Revenue $63,416ADR $383Occ ≈ 45%3.8★ (49)
Vrbo
Car Show Property with Garage!
Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 0.7 mi
Revenue $41,021ADR $287Occ ≈ 39%4.7★ (3)
Airbnb Vrbo
CampingThemed/Pool/HotTub/GameRoom/FirePit/Sleep16
Cabin · 4 bd · 4 ba · sleeps 16 · 0.7 mi
Revenue $8,724ADR $436Occ ≈ 5%5★ (1)
Airbnb Vrbo
Parkway Hideaway by American Patriot Getaways
Apartment · 4 bd · 3 ba · sleeps 8 · 0.7 mi
Revenue $61,769ADR $324Occ ≈ 52%—
Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
River/Mtn Views- Pool-Gym-Gamerm @ Appleview Condo Apartment	3 bd · 3 ba · sleeps 8	$7,032	$251	8%	4★ (1)	0.4 mi	Airbnb
Apple River Penthouse House	3 bd · 3 ba · sleeps 11	$47,033	$344	37%	4.9★ (23)	0.4 mi	Vrbo
Lazy Bear in Pigeon Forge Cabin	4 bd · 3 ba · sleeps 12	$63,416	$383	45%	3.8★ (49)	0.7 mi	Vrbo
Car Show Property with Garage! Condominium (condo)	3 bd · 3 ba · sleeps 8	$41,021	$287	39%	4.7★ (3)	0.7 mi	Airbnb Vrbo
CampingThemed/Pool/HotTub/GameRoom/FirePit/Sleep16 Cabin	4 bd · 4 ba · sleeps 16	$8,724	$436	5%	5★ (1)	0.7 mi	Airbnb Vrbo
Parkway Hideaway by American Patriot Getaways Apartment	4 bd · 3 ba · sleeps 8	$61,769	$324	52%	—	0.7 mi	Booking

Revenue and nightly rate (ADR) are trailing-12-month figures per listing. Occupancy is estimated as revenue ÷ ADR ÷ 365 and can read high when revenue includes cleaning fees.

Cash flow calculator

Financing

Management

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracketCount tax savings in returnsOnly if you can use the losses (STR loophole)

Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

Est. revenue

$50,780

NOI

$28,394

Cash flow /mo

-$255

Cash needed

$157,250

Cash-on-cash

-1.9%

ROE (yr 1)

9.0%

Cap rate

6.0%

DSCR

0.90

Year-1 write-off

$99,100

Year-1 tax shield @ 32%

$31,712

Year-1 return on equity

Cash flow (annual)-$3,064
Principal paydown$2,958
Appreciation at%$14,250

ROE9.0%

Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$10,156
Platform fees (3% of revenue)$1,523
Maintenance / capex (5% of revenue)$2,539
Utilities & supplies$4,200
HOA$0
Property tax$1,118
Insurance (STR-rated)$2,850

Cash needed to close

Down payment (25%)$118,750
Closing costs (4.0%)$19,000
Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

Tax shield @ 32%$31,712

Property tax, insurance rate and the land/building split come from this listing's county tax record; other assumptions match the daily feed (see tasks/plan.md).

The write-off comes from the cost segregation estimate below. Not tax advice.

Cost segregation estimate

An estimate from the listing: every part of the home is priced from national construction costs, less wear for age, and the price (less land) is spread over the parts in proportion. The headline is what a typical cost seg study would claim for this property. The answers below are optional refinements.

Depreciable basis

$365,000

Short-life (5/15-yr)

$79,000 · 22%

Year-1 deduction

$99,000

Year-1 tax shield @ 32%

$32,000

Land 23% (county tax record, market value split) · building $286,000 over 39 years · new furniture $20,000

Based on: 2,170 sq ft, built 1988, 3 bd / 3.5 ba, unfurnished, listing features (fence, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $76,000 in year 1 (15% short-life, $24,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$65,100

Kitchen cabinetsdefault
$10,600 new × 40% good × 2.13 allocation
$9,000
Kitchen countertopsdefault
$8,600 new × 40% good × 2.13 allocation
$7,300
Decorative trimdefault
$3,800 new × 40% good × 2.13 allocation
$3,200
Mirrorsdefault
$500 new × 40% good × 2.13 allocation
$400
Shelvingdefault
$1,200 new × 40% good × 2.13 allocation
$1,000
Window coverings (22)default
$5,500 new × 40% good × 2.13 allocation
$4,700
Carpet, vinyl & laminate (33% of floors)listing
$4,700 new × 40% good × 2.13 allocation
$4,000
Kitchen & laundry equipment plumbingdefault
$8,200 new × 40% good × 2.13 allocation
$7,000
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 40% good × 2.13 allocation
$4,200
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 40% good × 2.13 allocation
$4,800
Furniture bought newlisting
$19,500 new × 100% good · bought separately
$19,500

15-year land improvements$33,600

Paving: driveway & walks (paved)default
$12,100 new × 50% good × 2.13 allocation
$12,800
Landscaping (typical)default
$9,300 new × 50% good × 2.13 allocation
$9,900
Patiosdefault
$2,100 new × 50% good × 2.13 allocation
$2,300
Decks & porches (attached)default
$2,100 new × 50% good × 2.13 allocation
$2,300
Fencinglisting
$6,000 new × 50% good × 2.13 allocation
$6,400

Building, 39-year$285,800

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$235,500 new × 40% good × 2.13 allocation
$200,300
Building plumbing & fixturesdefault
$24,400 new × 40% good × 2.13 allocation
$20,800
Building electrical & lightingdefault
$24,800 new × 40% good × 2.13 allocation
$21,100
HVACdefault
$24,400 new × 40% good × 2.13 allocation
$20,800
Hardwood & tile floorsdefault
$9,300 new × 40% good × 2.13 allocation
$7,900
Fireplacelisting
$2,600 new × 40% good × 2.13 allocation
$2,200
Septic systemlisting
$12,000 new × 50% good × 2.13 allocation
$12,800

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$65,100	$33,600	$300	$99,100
2	$0	$0	$7,300	$7,300
3	$0	$0	$7,300	$7,300
4	$0	$0	$7,300	$7,300
5	$0	$0	$7,300	$7,300
6+	$0	$0	$256,200	$256,200
Total	$65,100	$33,600	$285,800	$384,600

Model-based estimate, not an engineered cost segregation study. The IRS doesn’t approve studies; get a professional study before filing. Using these losses against W-2 income needs the short-term rental exception (average stay ≤7 days + material participation). The 39-year building life applies because stays average under 30 days, a separate test (27.5 years for a long-term rental). Federal only: California, Georgia and Wisconsin disallow bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.

Market note

STR allowed in most of Sevier County; inside Gatlinburg city limits only in overnight-rental zones.